Protecting People and Businesses from Online Fraud

Monext SAS

Customer Snapshot:Overview

40% of fraud incidents occur over the weekend

As online payment becomes the standard for doing business, the threat of credit card fraud is on the rise. As an e-payment service provider, Monext knows that even the slightest reduction in fraud can save hundreds of millions of euros annually. With the SAP® InfiniteInsight® solution, Monext builds card-specific predictive models that help identify fraudulent transactions in milliseconds.

Customer Snapshot:History

1998

Société Générale sold their subsidiary SG2 to UK-based company, Experian. They became the group's Cards and Services division.

2008

About 10 years after their launch, Monext was processing over 100 million transactions annually.

2010

Monext became a subsidiary of Crédit Mutuel Arkéa. They launched a multi-issuer solution that served large and small issuers of widespread credit cards. Monext covered more than 135 million transactions and over 2,500 e-commerce clients.

2011

Monext became the first in the French market to receive PCI DSS (Payment Card Industry Data Security Standard) certification for their Customer Service Centre. Monext was only the 5th company in Europe to receive this certification.

Customer Snapshot:Business Model

Specializing in Mobile Payment Transactions

Monext develops integrated solutions for financial institutions and retailers. Their tailored packages help clients support secure issuing, acquiring, and accepting payments within countries and across national borders. These solutions ensure secure electronic payments – with or without the use of a credit card – at the point of sale, on the Internet, or from a mobile device.

Every day, millions of people across Europe rely on these services to shop in stores and online, fuel their cars, take the bus or train, or even pay their parking ticket. And should it become necessary to block a credit card to prevent fraudulent use, Monext is there to help as well.

Customer Snapshot:Success Strategy

Partnering with Businesses

Active in several European countries, Monext has worked with some of the largest companies in banking, retail, and e-commerce to help them grow their businesses across the continent. Monext is one of the first European providers of payment solutions and services that support multi-lingual, multi-currency, and cross-country transactions. Their offerings span back-office and 24/7 customer service center activities.

By 2015, Monext aims to leverage the full potential that the Single European Payments Areas (SEPA) offers – helping solidify their position as a leader among electronic payment providers.

The Challenge

A Growing Problem

A Growing Problem

The growth of credit card payments, especially in the area of online sales, has led to a significant increase of fraud. This fraud has become amazingly well-organized in recent years.

Driven by their overarching goal of helping some of Europe’s largest e-businesses, retailers, and banks, Monext offers tools that help minimize the risk of fraud for the client – be it the consumer holding the credit card or the company accepting the transaction.

But Monext realized that they needed a more targeted approach to predicting potential fraudulent activity. In particular, the company wanted to decrease false alerts to improve the consumer experience and to reduce costs in their call centers.

Enter SAP

Out with the Old, In with the New

Monext made the decision to replace an outsourced analytics solution that used a rather generalized model to predict e-fraud. With the SAP InfiniteInsight solution, Monext could create custom-tailored predictive models for each unique card provider and card type—including credit, debit, prepaid, and luxury cards.

Enter SAP:The SAP Experience

A Simple Solution for Rapid Modeling

Employees using the new solution were intrigued by its powerful and user-friendly interface. It basically allowed them to learn how to use the tool on-the-fly, leading to more rapid modeling.

Better Business

Analyzing Big Data in Milliseconds

Monext can now build card-specific predictive models that help identify fraudulent transactions in milliseconds. This ability to keep pace with a constantly growing credit card business has helped reduce fraud across one billion transactions every year. Furthermore, Monext has seen a reduction in false alerts.

Better Business:Benefits

Benefits Measured in the Millions

Hundreds of millions of transactions

analyzed, and up to 500 native and derived attributes used to evaluate electronic transactions in milliseconds.

Hundreds of millions of euros saved

in potentially lost revenue annually for card providers, providing a real competitive advantage and greatly improving the consumer experience.

With these improvements in overall consumer experience, call center agents are now able to focus more on providing valuable services to consumers and addressing other challenges.

Better Business:Run Simple

Less Time and Effort, More Reliable Results

In the past, it could take Monext days or even weeks to create a predictive model to help identify potential fraudulent activity. Today, just one half-time analyst is capable of building customized models that are tailored to specific needs, with reliable results available within hours. This enables a more accurate prediction of the potential fraudulent activity and helps to ensure the trust that businesses and millions of consumers have in secure credit card transactions.

Journey Ahead

Continuous Innovation for Future Protection

Monext believes that continuous innovation is critical to stay ahead of fraud and to make payments even more convenient and secure across all electronic channels. The company intends to continue to support and protect businesses and consumers using SAP software technology.